A human resource such as ingenuity can be thought of as
A) part of government spending programs. B) part of a country's endowment.
C) a causal factor for aggregate supply shifting left. D) a positive for imports.
B
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Suppose a budget line is drawn between pizza, on the horizontal axis, and tacos, on the vertical axis. How does a change in the price of a pizza affect the budget line?
What will be an ideal response?
One reason why most economists forecast that the effects of NAFTA on the U.S. economy would be small is because
A) NAFTA does not bring down tariffs far enough. B) the Mexican economy is small relative to the U.S. economy. C) NAFTA trade opening provisions only cover a handful of sectors. D) Mexico was not expected to live up to its obligations under the agreement. E) the United States was not expected to live up to its obligations under the agreement.
Network effects are seen in manufacturing sectors
Indicate whether the statement is true or false
Which of the following examples would most likely provide buyers with more of a differentiated product because of excess capacity?
a. a barley farm b. a book store c. a steel manufacturer d. a shrimp fishery